Charitable cryptocurrency Cross-Stratum Coin to be launched next year

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CSMC's coin would support a range of global charities (Source: Getty)

Francesca Washtell

A NEW cryptocurrency slated for release next year is set to bridge the world of digital currencies and international charity payments.

The Cross-Stratum Coin (CSC), created by UK-based fintech company Cross-Stratum Mutual Community (CSMC) Asia, will utilise trading fees as a method for donation to global charities when it launches in the first quarter of 2017.

For every trade that is made using CSC, the trading fee will be donated to a suite of global charities. This will be carried out by means of a global-assistance movement.

CSMC has appointed a foundation in Malaysia as its key platform and partner to deliver the new service.

“It came across to use that in order for one coin to eventually successfully sustain and create value, a huge user-base is of paramount importance and what can be better than creating its value and user base via a charitable movement like Pay-It-Forward?

“We expect the CSC to take the market by storm when it is launched.”

There are hundreds of different altcoins globally acting in competition with bitcoin, all of which operate independently of central banking systems using blockchain technology.